Evidence of companies acting in contradiction to themselves is exemplified by State Farm, California’s largest homeowner insurer, whose sustainability initiatives bear the tagline ‘Good Neighbors. Better World.’
So what?
However, State Farm recently declared its decision not to underwrite new policies in California due to concerns about ‘rapidly growing catastrophe exposure.’ The company, which is the largest underwriter of oil and gas ventures in the United States retains fossil-fuel-related investments totalling at least $30.9 billion as of 2019.
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